North Sea firms under pressure to cut decommissioning costs
Closer collaboration is essential to drive down the price tag for dismantling infrastructure, the UK's regulator says
The Oil and Gas Authority (OGA) says the industry must reduce decommissioning costs in the North Sea by at least 35% from forecast levels to below £39bn, but achieving that target will not be easy. In its 2017 Cost Estimate Report for UK continental shelf (UKCS) decommissioning, the regulatory body has produced a cost estimate, based on 2016 prices, ranging from ($57.74bn) £44.5bn (P10) to £82.7bn (P90), with a P50 figure-or mid-point in terms of probability-of £59.7bn. The range of figures reflects the high degree of uncertainty in submissions provided by operators to the OGA, especially for decommissioning work likely to occur after 2025. The mid-point of £59.7bn is higher than figures t
Also in this section
21 August 2025
The administration has once more reduced its short-term gas price forecasts, but the expectation remains the market will tighten over the coming year, on the back of
19 August 2025
ExxonMobil’s MOU with SOCAR, unveiled in Washington alongside the peace agreement with Armenia, highlights how the Karabakh net-zero zone is part of a wider strategic realignment
19 August 2025
OPEC and the IEA have very different views on where the oil market is headed, leaving analysts wondering which way to jump
15 August 2025
US secondary sanctions are forcing a rapid reassessment of crude buying patterns in Asia, and the implications could reshape pricing, freight and supply balances worldwide. With India holding the key to two-thirds of Russian seaborne exports, the stakes could not be higher
